Venture funding to Web3 startups exploded in 2021. From DeFi to NFTs, we break down Web3 applications, funding trends, unicorns, and more.
Web3 is one of the hottest buzzwords in venture capital today. But what exactly is it?
Web3 is a decentralized internet built on an open, permissionless blockchain network.
While critics argue that Web3 is nothing more than a marketing term created by venture capitalists, the tech has garnered a lot of attention for its numerous, potentially disruptive applications.
Below, we look at 3 use cases for Web3 that are gaining significant traction:
- Decentralized finance (DeFi)
- Non-fungible tokens (NFTs)
- Gaming & virtual worlds
Decentralized finance (Defi)
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